GBPUSD might be forming a short term cycle top at 1.4661 level on 4-hour chart. Key support is at 1.4250, a break below this level is needed to confirm the cycle top. If 1.4250 level gives way, deeper decline could be seen to 1.3800 zone. However, above 1.4661 level will indicate that the short term uptrend from 1.4093 is underway and further rally is expected to retest 1.4985 previous high resistance.
Join the Discussion